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Impax adds to French portfolio with Gamesa deal

FRANCE: Gamesa has sold an 8MW wind project in France to UK-based private equity fund Impax Asset Management.

The La Souterraine project is located in the Limousin region of France and uses Gamesa's G97 2MW turbines. It is currently under construction and will be completed by end-2012.

The deal is Impax's first acquisition from Gamesa. Last year, Impax  has bought a wind-power portfolio of around 100MW in France and Poland from Spanish renewable-energy company Eolia Renovables.

Impax bought Hamburg-based developer Epuron late last year. Epuron is constructing a 12MW project in Picardy and expects to start building another 100MW in France and Germany over the next six months.

Speaking about the Gamesa deal, Impax investment director Joe Berry said: "We are delighted to sign our first Gamesa windfarm acquisition, and hope to expand our co-operation in the future.

"La Souterraine is an excellent fit within Epuron’s fast-growing French portfolio, and another milestone for the company’s ‘buy and build’ strategy."

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